Banking on a vibrant marine industry in New Zealand

by NZ Marine on 8 Mar 2010 ASB Bank's decision to locate its new headquarters in the redeveloped Wynyard Quarter is being welcomed by the New Zealand marine industry.

Peter Busfield, executive director of the Marine Industry Association, says he believes it will be the first of many such announcements.

“It is great to see major international businesses, like ASB Bank, backing our vision for a vibrant working waterfront,” he says.

The revitalization of the area has been planned to accommodate the marine industry and particularly the refitting, commissioning and maintenance of locally-built and visiting superyachts.

It is an industry estimated to be worth 1500 jobs and up to $200 million to the New Zealand economy.

“Having world class marine facilities in this area will deliver huge dividends for not only the marine industry but also Auckland City and, indeed, the whole country,” says Mark Wightman, chairman of NZ Marine, the industry’s export arm.

“Not only do these vessels generate up to tens of millions of dollars each in refit work, their ancilliary spending is also considerable.”

Mark Wightman says the development will ensure Auckland continues to remain one the Pacific’s most desirable stopover ports for large yachts.

“The development at Wynyard Quarter will allow us to build on one of our real strengths. Auckland is the only port in the Southern Hemisphere where superyachts can undergo major refit or commissioning work within walking distance of the shops, restaurants and bars of a major metropolitan city.

“That proximity means skippers and crews can literally walk or cycle to a world class engineer, sailmaker or chandlery – or into the heart of a bustling modern city.”

Research has also shown that while their boats are in Auckland for a refit, superyacht owners will often bring family and friends to New Zealand and tour around the country.

“These people stay in our best hotels and lodges, hire helicopters to get around, pay generously for exclusive experiences, order our best wines and generally contribute enormously to our economy.”
Peter Busfield says tit is fantastic to see the industry’s vision coming together.

“We know the world likes coming to Auckland, just look at the success of events such as this week’s NZ Marine Cup and the Louis Vuitton Trophy regatta the following week.

“When Wynyard Quarter is complete, Auckland will have one of the most vibrant, exciting waterfronts in the world and the marine industry is proud to be an integral part of that